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California finds PG&E responsible for fire, Toyota outsells GM in the U.S., Walmart expands delivery

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Yahoo Finance’s Julie Hyman breaks down top headlines, including California’s decision to find PG&E responsible for massive fire, Toyota dethroning General Motors for the first time in nearly a century, and Walmart's plans to expand its in-home delivery service to over 30 million homes.

Video transcript

JULIE HYMAN: California investigators have found that Pacific Gas and Electric is responsible for the massive fire that swept through parts of the state last year. The California Department of Forestry and Fire Protection stated that the fire started after a tree came into contact with PG&E's electrical distribution lines. The wildfire in the Sierra Nevada foothills last summer spread across nearly 1 million acres, destroyed more than 1,300 structures, and killed one person. PG&E has acknowledged its responsibility and disclosed in security filings that it may face up to $1.1 billion in liability costs.

Toyota is now the leader in US auto sales for 2021, taking the title away from General Motors for the first time in nearly a century. Toyota outsold GM by roughly 114,000 vehicles last year, totaling about 2.3 million in US sales. That's compared to GM's 2.2 million. GM had been the number one auto seller in the US since 1931 according to Automotive News. The change in titles marks another sign of the ongoing chip shortage, as well as US automakers losing dominance in their home market. You can see the mixed picture on those stocks today. Toyota, by the way, trading at a record. GM was there yesterday, now fallen back a little bit today.

Walmart has announced that it's expanding its in-home delivery service from 6 million US households to 30 million by the end of the year. Through this service, Walmart employees can enter customers' homes to deliver groceries while they're wearing a camera. In other words, they put your stuff in the fridge. The service costs $19.95 per month. Walmart says it will be available in major cities like Los Angeles and Chicago. The company's also planning to hire 3,000 delivery drivers to support the service.

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